Vancouver Whitecaps FC was established in 2009, when a Major League Soccer franchise was granted to a Vancouver-based ownership group. Previously, a team called the Vancouver Whitecaps had participated in the North American Soccer League and was operated by the same group. That club was founded in 1974 and some see the current club as a continuation of the old team. Officially, however, it is recognised as a seperate club.

The 2011 season was the club's first in the MLS and their participation made them the second Canadian team to compete in the division, after Toronto FC. The team has a passionate three-way rivalry with Seattle Sounders FC and the Portland Timbers, based on dominance of the Pacific Northwest region and dating back to the NASL days. The Cascadia Cup is awarded annually to the team which wins the most points in matches between the three teams over the course of the season.

Due to the team's relative youth, success in MLS has been limited. In their first season, the Whitecaps finished 18th overall in MLS. However, in the 2012 season, the team qualified for the MLS Cup Playoffs and became the first Canadian club to achieve this. During the season, they improved on the previous season's performance and finished 11th overall in MLS. In addition, the team has twice been runner up in the Canadian Championship, in 2011 and 2012.

Some of the more notable footballers to play for the Whitecaps in their short MLS history to date include Jay DeMerit, Lee Young-Pyo, Kenny Miller, Camilo Sanvezzo, Darren Mattocks and Sébastien Le Toux. Eric Hassli scored the team's first ever MLS goal.

The Vancouver Whitecaps currently play their home matches at BC Place. The stadium, which is shared with the BC Lions Canadian Football team, has a total capacity of 54,320 but this is reduced to 21,000 for Whitecaps matches.